Cryptocurrencies fell about 4% on Friday as a weak jobs report and the US airstrike campaign weigh on risk assets.
Notable Statistics:
- Coinglass data shows 96,006 traders were liquidated in the past 24 hours for $323.92 million.
- SoSoValue data shows net outflows of $227.8 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net outflows of $90.9 million.
- In the past 24 hours, top losers include Zcash, Ethena and Pump.fun.
Notable Developments:
Trader Notes: Michael van de Poppe said the market is experiencing a “classic Friday selloff,” with risk assets declining into the afternoon.
The pullback has also been reflected in the tech-heavy Nasdaq Composite, which slipped alongside crypto.
According to van de Poppe, Bitcoin’s key support zone sits around $67,000 to $68,000. If that level fails, the market could move lower to retest recent lows and capture liquidity before potentially bouncing higher.
Crypto Capo suggested order-book spoofing may be contributing to the volatility, comparing it to manipulation seen during the FTX-era market turmoil.
Spoofing occurs when traders place large fake orders to push price toward specific levels where real orders can then be executed.
Despite the volatility, Capo highlighted $65,000 as the key level to watch. As long as Bitcoin holds above that threshold, he said the broader outlook remains bullish with $75,000 as a potential upside target.
CrediBULL Crypto noted that Bitcoin was recently rejected at the range high and has since moved back into its trading range.
Such price action typically signals short-term weakness or consolidation, particularly when the upward move lacks strong momentum.
He added that traders should remain cautious near range highs, as breakouts without strong impulsive price action are more likely to fail and push the market back into consolidation.
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